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1. Functional Currency Jv: This Journal, we enter Local Currency transaction purpose.
2. Foreign Currency Jv: this Journal, we enter other than local currency transaction
purpose...before we define exchange rates
3.Suspense Jv: this Journal, whenever debit is not equal to credit that time, we enable in set of
books window Suspense button, then it works otherwise it's not working
4.Tax Jv: this Journal, calculate taxation of Purchased items
5.Reverse Jv: this Journal whenever we enter recurring journal, at the time of we using..We have
two methods...one is Debit to Credit and second one is sign (+ to -)
6.Recurring Jv :this one is We define one template, we use Periodically, these are 3 types
1.Standard 2.Skeleton 3.Formula
7.Mass Allocation Jv :Set of Expenses or Set of Revenue allocate different parts using Formula
A*B/C
A is Total Cost Pool..B is Usage Factor...C is Total Usage Factor...
8. Batch JV: Group of Journal we enter at a time, We Define Control Amount
9. Stat JV: This JV we have one side of Amount either debit or Credit.....
5) What is average Balance In Oracle Financials?
Ans) The Average Balance feature of Oracle General Ledger provides organizations with the
ability to track average and end-of-day balances, report average balance sheets, and create
custom reports using both standard and average balances. Average balance processing is
particularly important for financial institutions, since average balance sheets are required, in
addition to standard balance sheets, by many regulatory agencies. Many organizations also use
average balances for internal management reporting and
Profitability analysis.
The difference between an average and standard balance sheet is that balances are expressed as
average amounts rather Than actual period-end amounts. An average balance is computed as the
sum of the actual daily closing balance for a balance sheet account, divided by the number of
calendar Days in the reporting period .
6) Is there a limit to the number of periods in a budget year or how many years a budget
can span?
Ans) One can define budgetary control for n number of years however, one year can have
maximum of 60 fiscal periods7)
7) What is a funding budget?
Ans) A budget against which accounting transactions are checked for available funds when
budgetary control is enable for your set of books.
8) What is planning budget
Ans) The plan for the future expenses is planning budget. It is a paper work. There is no funds
requirement. It does not require journals. There are no restrictions for estimating of funds.
9) I was able to post a budget journal to a closed period, why?
Ans) Yes you can do so, reason being budget journal is not linked with your accounting period.
Once you have open the budget period then you can book budget journal for that whole period.
10) What is the specific purpose of assigning Balancing Segment Values to the Legal Entity
in Accounting Manager Setup (as once assigned, the same value is not allowed to be
selected for any other Legal Entity), if this value is usable for the Operating Unit(s) that
does not have this Legal Entity Context?
Ans) Summary of key facts:
1. Common COA Structure used for Primary and Secondary Ledgers
2. Ledger shared by Multiple Legal Entities
3. Specific Balancing Segment Values assigned to Specific Legal Entity (Overlap not allowed)
4. Specific Legal Entity Vision Operations Assigned to Payables Manager OU for Legal Entity
Context
5. User preference set to Access Vision Operations OU by Default in Payables
Conclusion and Findings:
1. Balancing Segment Value Assignment to the Multiple Legal Entities, sharing the same Ledger
does not seem to restrict the user of these Balancing Segment Values in the Feeder, Operating
Unit specific Modules Like AP, wherein Legal Entity Context is passed to the OU through the
link of the Primary Ledger.
2. However, access to these Balancing Segment Values could be controlled through Security
Rules being assigned to the Value Set and the Respective Responsibility
3. The Key question is: If Legal Entity having the context to the Operating Unit that shares the
common Ledger does not have assignment to it, what impact it has on the integrity of data when
this access is otherwise allowed, except through Security Rules?
Answer: Not really. Oracle delivers a predefined list of columns for each table that are meant for
DFF usage. Only those columns can be mapped to DFF segments. These columns are named
similar to ATTRIBUTE1, ATTRIBUTE2, ATTRIBUTE3 ETC. Usually Oracle provides upto 15
columns, but this number can vary.
Question: Can I add hundreds of fields to a given screen?
Answer: This depends on the number of attribute columns in the table that screen uses. Also,
those columns must be flagged as DFF enabled in DFF Registration screen. Don't need to worry
much about this because all the ATTRIBUTE columns are by default flagged for their DFF
usage.
Question: Hmmm, I can see that DFFs are related to table and columns...
Answer: Yes correct. Each DFF is mapped to one table. And also each segment(or call it field) is
mapped to one of the attribute columns in that table.
Question: I want these fields to appear in screen only when certain conditions are met. Is it
possible?
Answer: Yes, we have something known as Context Sensitive Descriptive Flexfields.
In Order to do this, we will follow the below steps(screenshots will follow) :1. Navigate to the DFF Registration screen in Oracle Apps and query on Table
AP_BANK_BRANCES. Now click on Reference Field
2. Navigate to DFF Segments screen and query on the Title of the Bank Branch and Unfreeze
the Flexfield and add segments as to Section "GLOBAL Data Elements" as shown in
screenshots.
An Exchange rate that we define to standardize rates for our company. This rate is the standard
market rate determined by the senior financial management for use through out the organization.
User Rate:
Conversion rate that is defined by the user.
EMU Fixed Rate: An exchange rate that is provided automatically by the General Ledger while
entering journals. It uses a foreign currency that has a fixed relationship with the euro.
Transaction Calendar: Defines the business days and holidays for any calendar.
Accounting Calendar: Defines different types of calendars namely Fiscal, Federal Fiscal, Month
etc.
20)What is Security Rule?
Ans) Security Rules are defined to control the access of a flexfield segment value (Financial
information) at a responsibility level.
21) What are Cross Validation & ADI?
Ans) CVS Cross validate segments Allows only valid code combinations.
ADI Allow dynamic inserts. Allows any code combination irrespective of validity.
ADI would prevail if both of CVS and ADI are checked.
22)What is Translation?
Ans) Translation is a process used to convert functional currency to other reporting currencies at
the account balances level.
23)What is Revaluation?
Ans) It is process used to revalue assets and liabilities denominated in foreign currency into
functional currency based on period end exchange rate we specify. Unrealized gains/losses are
resulted because of exchange rate fluctuations which are recorded in unrealized gain/loss account
in GL.
chart of accounts
currency
Use secondary ledgers for supplementary purposes, such as consolidation, statutory reporting, or
adjustments for one or more legal entities within the same accounting setup. For example, use a
primary ledger for corporate accounting purposes that uses the corporate chart of accounts and
subledger accounting method, and use a secondary ledger for statutory reporting purposes that
uses the statutory chart of accounts and subledger accounting method. This allows you to
maintain both a corporate and statutory representation of the same legal entity's transactions in
parallel.
Assign one or more secondary ledgers to each primary ledger for an accounting setup.
The secondary ledgers assigned can only perform the accounting for the legal entities within the
same accounting setup.